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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Smith (ds) Plc | LSE:SMDS | London | Ordinary Share | GB0008220112 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-1.60 | -0.40% | 395.60 | 395.40 | 395.80 | 400.00 | 394.20 | 400.00 | 22,272,620 | 14:34:42 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Corrugated & Solid Fiber Box | 8.22B | 503M | 0.3656 | 10.84 | 5.45B |
TIDMSMDS
RNS Number : 5288D
Smith (DS) PLC
20 February 2020
20 February 2020
DS Smith Plc - Sale of Plastics Division Update
Sale of Plastics division
DS Smith is pleased to announce that the U.S. Department of Justice has entered into a consent decree clearing the way for the completion of Olympus Partners and its affiliate Liqui-Box Holdings' pending acquisition of DS Smith's Plastics division. The consent decree is now subject to the required U.S. federal court ratification, which is the final part of that process and we expect the transaction to complete promptly thereafter.
The sale represents an important step in DS Smith's continued progress as a leader in sustainable packaging with a clear focus on our fibre-based business.
We expect net cash proceeds of approximately GBP400 million, after taxation, transaction adjustments and expenses, which will be used to reduce financial gearing in line with our medium-term target of net debt / EBITDA at or below 2.0x.
Enquiries
DS Smith Plc +44 (0)20 7756 1800
Investors
Hugo Fisher, Group Investor Relations Director
Rachel Stevens, Investor Relations Director
Media
Greg Dawson, Group Corporate Affairs Director
Brunswick +44 (0)20 7404 5959
Dan Roberts
Cautionary statement
This announcement contains certain forward-looking statements with respect to the operations, performance and financial condition of the Group. By their nature, these statements involve uncertainty since future events and circumstances can cause results and developments to differ materially from those anticipated. The forward-looking statements reflect knowledge and information available at the date of preparation of this announcement and DS Smith plc undertakes no obligation to update these forward-looking statements. Nothing in this trading statement should be construed as a profit forecast.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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February 20, 2020 02:00 ET (07:00 GMT)
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